Latest News Briefs – Page 69
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News briefs
Footwear veteran Helmut Werdich dies at 89
Helmut Werdich, a footwear entrepreneur who turned a small family business into a shoe retail chain operating throughout southern Germany, has died at 89. Born on Feb. 1, 1934 in Wangen, in the Baden-Württemberg region of Germany, as the eldest of four children, Werdich was a third-generation footwear professional. ...
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KG Schuhkay enters protective shield proceedings
Despite better-than-expected results, the Hamburg-based footwear retailer KG Schuhkay has launched a restructuring process under a protective shield procedure, as the business outlook was clouded by the fallout from the war in Ukraine, soaring inflation and a general change in consumer behavior since the autumn/winter 2022 season. The procedure, ...
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Markus Dielmann joins Fashion Cloud’s sales team
Markus Dielmann has joined the B2B solutions provider Fashion Cloud. The Hamburg-based company hired Dielmann earlier this month to strengthen its sales team. The shoe professional, who has many years of experience in purchasing, sales and logistics, will be in charge of establishing data exchange and digital orders for ...
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VeNetWork acquires Unimonteco and creates VeNeSport
VeNetWork SpA, a business accelerator that brings together 73 entrepreneurs from Italy’s Triveneto area, has announced the creation of VeNeSport, a new network of companies with a focus on sports footwear. Innovation consultant Flavio Alberti will head VeNeSport as the network’s president. More in Sporting Goods Intelligence Europe.
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News briefs
Skechers acquires Scandinavian distributor
Skechers has signed an agreement to acquire its existing Scandinavian distributor, Sports Connection Holding ApS. Sports Connection’s business includes 58 existing Skechers retail locations, several e-commerce solutions and more than 1600 wholesale customers. The company was established in Denmark in 1994 and has been Skechers’ exclusive distributor in the Nordic ...
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News briefs
Prada produces half of its shoes inhouse
Prada produces about half its footwear in-house. This compares with around 10 percent for clothing and about 30 percent in the case of leather goods. As part of its plans to increase its control over the supply chain, the Italian fashion plans to invest €60 million this year to boost ...
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Zegna sees ‘encouraging recovery’ as China reopens
The Italian fashion house Ermenegildo Zegna has started 2023 with an “encouraging recovery led by the reopening in China following restrictions tied to Covid-19 and the robust growth in our business in the United States and Europe led by our retail, and for Zegna a healthy increase in productivity, which ...
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News briefs
Kelso hikes its stake in THG
The investment company Kelso has increased its total stake in THG to 8.0 million shares, through a mix of ordinary shares and contracts for differences, representing around 0.55 percent of the total share capital of the British online retailer. The company said that the investment in THG is focused around ...
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News briefs
Hoka launches a collection for kids
Hoka, a division of Deckers Brands, has launched its first-ever footwear collection for children. “You’ll find 100 percent Hoka DNA woven throughout our new Youth collection, including sustainably minded materials that help our next generation of athletes tread lighter,” said Hy Rosario, director outdoor and kids at Hoka. “The Youth ...
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News briefs
Allbirds expands and extends its credit line
Allbirds reported in a regulatory filing that it has entered into an amendment credit agreement with its lender, JPMorgan Chase, that increases the committed amount from $40 million to $50 million. In addition, the amended terms include an increase in the uncommitted additional borrowing capacity from $35 million to $50 ...
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News briefs
OrthoLite Cirql hires a director of development and commercialization
OrthoLite, the U.S.manufacturer and provider of insoles and material solutions for footwear, has appointed Marc Kronenberg as director of development and commercialization for OrthoLite Cirql, a plastic-free, recyclable, biodegradable and industrially compostable foam technology. Kronenberg brings to the OrthoLite Cirql team more than two decades of global footwear manufacturing experience, ...
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JD Sports creates new global leadership position
JD Sports Fashion appointed Michael Armstrong to the newly created position of global managing director to drive growth and advance expansion plans internationally, particularly in the North American and European markets, to become the “leading global sports-fashion powerhouse.” Armstrong will work under CEO Régis Schultz to oversee JD’s strategic direction, ...
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3A expects sales of €105m in 2023
3A, an Italian distributor of international sportswear and fashion brands, posted revenues of €94 million, up by 27 percent in 2021. Despite an increase in costs, the Ebitda margin widened to 8 percent from 6 percent a year earlier. The company ended 2022 with a net profit of €4.8 million. ...
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Piquadro’s Q4 sales up by 22%
Piquadro generated revenues of €48.8 million in its fourth quarter ended March 31, up by 22 percent compared to the year earlier. For the full year, revenues increased by 17.5 percent to €175.6 million. In the fourth quarter, the Piquadro brand reported revenues of €23 million, up by 19.9 percent ...
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THG's operating loss widens
THG’s operating loss widened to £495.6 million (€562m) in 2022 from £137.5 million the year earlier, as profits were hit by the non-cash impairment of £275.4 million (€312m), in addition to certain non-recurring costs which continue to decline. Adjusted Ebitda for the year amounted to £64.1 million (€73m), in line ...
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Italy entrepreneurs concerned about a recession
A majority of Italian entrepreneurs are concerned about the prospects of a recession although they expect an economic downturn will be temporary and have a less negative impact than past recessions, according to a survey carried out by the consultancy EY. In particular, 87 percent of Italian entrepreneurs interviewed are ...
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THG receives a preliminary takeover offer from Apollo
THG said that it has received “a highly preliminary and non-binding indicative proposal” from the private equity Apollo Global Management to acquire its entire issued and to be issued share capital. There can be no certainty that any firm offer will be made, the British online retailer added. Under U.K. ...
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Zalando names Kelly Bennett chairman of the supervisory board
Zalando’s nomination committee has proposed a new composition of the supervisory board for the annual general meeting, which will be held virtually in Berlin on May 24, 2023. Current vice chairman Kelly Bennett, who has been a member of the board since 2019, would take over as chairman from Cristina ...
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Bobux seeks a buyer as it goes into receivership
Bobux International, a New Zealand-based brand of children’s shoes, was placed into receivership after suffering from Covid-19 related supply chain issues and overstocking as well as the overhaul of its IT system that went over budget. The company was founded in 1991 by Colleen and Chris Bennett. In 2022, it ...
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Keds launches brand refresh and product expansion after Designer Brands takeover
Keds has engaged into a brand refresh, with an updated logo in a new blue hue, and launched three new upgraded sneaker styles priced between $50 and $80. The upgraded styles are The Court, The Platform and The Mini. The news comes after the brand was bought by Designer Brands ...
